Using your home equity is one of the most cost-effective ways to finance a large, extensive home improvement project. Funds are also directly deposited to your bank account so you can use the funds in a way that best suits your needs. Secured loans can allow you to borrow larger amounts and may give a more competitive interest rate, as your home guarantees repayments to the lender.

The interest free loans (subject to an administration fee of up to 15{657e9098d68c1152ff2fc4be1a87e55dcc1063a8cd33d914f3179b66a076c616} determined by the local authority) are available to homeowners and landlords to help remove these hazards from their homes. A bank account with an agreed overdraft may also be an option, but watch out for hefty charges and make sure you stick to the terms and conditions.

Reduce your EMI : With tenure of 10 years, you can reduce the EMI amount on your Home Improvement Loan, so that your …